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on the search for vittorio missoni.>>> good-bye, l cliff, hello debt ceiling cliff. i'm ali velshi. your elected officials ready to push america over the edge of the cliff. >>ly not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> well, yes, you will, mr. president, and very soon. democrats and republicans are set to clash again over raising the u.s. debt ceiling. let me tell you back in the old days the u.s. had a system where every time a bill involving money was passed the treasury had to raise money for it by issuing bonds. the debt ceiling law was established to give the u.s. treasury the flexibility to borrow money without going to congress to get approval every time a bill was passed. it had absolutely nothing to do with spending control or debt control. it was a technicality. most functioning countries don't have any such thing because they understand that if the government spends the money it has to pay the bills. republicans seem to think the debt creeling is is a good tool to limit
, cnn, washington. >>> and the fiscal cliff debt ceiling fight. >> for god's sake, i wouldn't wait until the last minute. we have had enough of this brinksmanship, this moving from crisis to crisis. >> i'll speak exclusively with irskin bowles, who chaired the panel that tried to head off this crisis. block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. . >>> congress went to the 11th how and then beyond before agreeing on a deal to keep the country from going over the fiscal cliff. the tax agreement was signed into law this week. but more cliffs lie ahead, including the very dangerous problem of raising the u.s. debt ceiling. and erskine bowles is joining us right now, part of the move to fix the cliff. part of the simpson-bowles commission, designed to deal with debt relief and debt reduction. erskine, thank you very much for joining us. >> thank you. >> how would you have voted for that fiscal relief legislation, had you been a member of the house or senate? >> oh, look, i would have voted for
>> axelro >> axelrod: tonight, the debt rumble. the fiscal cliff crisis is averted for the time being, and washington is gearing up now for another battle-- the debt ceiling. major garrett looks ahead. >> four people are shot to death in aurora, colorado, just miles from the theater where 12 people died last july. we'll have the latest. a new jersey town secures its students by posting armed police at every school in a district free of violent crime. and acoustic overload under the sea. what the rising tide of noisy ships is doing to the lives of whales. >> i think we're trying to understand what kind of a crisis this is. captioning sponsored by cbs this is the "cbs evening news." >> axelrod: good evening. i'm jim axelrod. washington has barely had time to catch its breath after reaching a deal on raising taxes and battle lines are already emerging for the next showdown. this week, secretary of the treasury, timothy geithner reported the u.s. government has reached its borrowing limit. this means the congress and the president have roughly two months to work out a deal to raise
enhancing drugs and republicans and democrats are they open to compromise when it comes to the debt ceiling? the next cliff we are approaching, we will give you a primer on that battle, next, you are watching msnbc, your place for politics even on a saturday afternoon. c'mon dad! i'm here to unleash my inner cowboy... instead i got heartburn. [ horse neighs ] hold up partner. prilosec isn't for fast relief. try alka-seltzer. kills heartburn fast. yeehaw! the blissful pause just before that rich sweetness touches your lips. the delightful discovery, the mid-sweetening realization that you have the house all to yourself. well, almost. the sweet reward, making a delicious choice that's also a smart choice. splenda no-calorie sweetener. with the original sugar-like taste you love and trust. splenda makes the moment yours. wears off. [ female announcer ] stop searching and start repairing. eucerin professional repair moisturizes while actually repairing very dry skin. the end of trial and error has arrived. try a free sample at eucerinus.com. we believe the more you know, the better you trade. s
scoring the worst. >>> the battle over the debt ceiling is just beginning. that's the self-imposed government borrowing limit imposed by congress. if the limit is not raised by late february or early march, the u.s. runs the risk of defoughting on its bills. close to $1 trill is needed to cover a year of borrowing. what's president obama's strategy? brian todd has the answer to the trillion-dollar question. >>. >> reporter: the president says he won't negotiate with congress over lifting the debt ceiling. >> i will not play that game. >> reporter: republicans say -- >> the president may not want to have this debate, but it's the one he's going to have, because the country needs it. >> reporter: so while they debate over a debate and raise head-long into the dead ceiling, is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and now even a congressman, are suggesting a $1 trillion platinum coin could be minted and the government could use that to pay the debt, avoid default and preempt the debt kreeg crisis. democratic congressman ger
the fiscal cliff. right now we're talking about the debt ceiling discussion ahead. how tough of a fight is president obama going to be coming home will to? >> oh, a very tough one because republicans now determined more than ever to get spending cuts as part of the fiscal deal on the fiscal cliff. the president said he's not negotiating over it and the new congress began making it very clear that spending cuts will be what they focus on like a laser in the coming months as negotiations continue. mitch mcconnell look at the incoming class of house republicans as well who voted, many of them against the bill on friday that provided $9 billion in flood relief to sandy. they did it because there weren't spending cuts. >> jonathan, how is the fiscal cliff fight, how might that shape the debt ceiling fight for republicans? >> it's everything to them in terms of they feel as it was pointed out before that they didn't get the spending cuts they wanted. they see the debt ceiling coming up in the early couple of months of the year here as an opportunity for leverage to get those spending cuts tha
point, we have the debt ceiling looming. if we were to find a solution for the debt ceiling from whether it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white house. are you kidding? >> u.s. you're right. the problem here is, between now and the end of february is everyone goin to say, well, here is a we need to do? are they going to agree on it? the republicans, i think, have corrected said we have done something on taxes. we raised it for everybody who works to raise taxes for those nasty rich folk. now cut spending in order to get on a gravel path to reduce he deficit. >> we enacted the greast tax cut in american history. 25 million new jobs. the american economy had confidence in president reagan. in what direction was going to be. that is what is lacking. we need to have that right now. >> you go back. y
the debt ceiling are expected to get as intense if not worse. the debt ceiling is the legal limit on the nation's borrowing. in his weekly address the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >>> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmakers say it was missing something monumental, long-term spending cuts. here is a clip of their weekly address. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then wastes it. that's the real problem. it needs a real solution. we have to make sure washington is accountable for e
in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a result, it is widely predicted that this year will be another period o
is what wrangling in washington over spending cuts and the debt ceiling will mean for hiring. companies continued adding jobs even with the uncertainty over the fiscal cliff. and, many economists believe firms will increase payrolls this year in spite of the debt ceiling debate. >> i don't think that the spending cuts will be as significant headwinds for the u.s. economy because these spending cuts are made over ten- year period. there won't be a significant amount of spending cuts that will take place in 2013, so that's why i think it's less of an issue. >> reporter: still, there's ample concern about what the expiration of the payroll tax cut will mean for spending and ultimately hiring. don't forget all americans will see a smaller paycheck this year, because of that change. >> consumers aren't well poised to absorb a 2% tax increase and nonetheless that's what's going to happen, and it's going to keep us stuck in this slow growth territory. >> reporter: and, slow economic growth makes companies less confident about adding new workers. as a result, it is widely predicted that this ye
of the negotiating with the president anymore. with the cliff behind us and the debt ceiling ahead of us and the sequester, do republicans really have any bargaining power left do you think? >> sure because -- because we have this debt limit. right now i mean the president's bargaining power in the last few months has been that all we cared about was "protecting tax cuts" for "the rich." that issue is off the table now. what we're now trying to do is reduce the deficit. stop the spending, reform the entitlements. in order to reduce their costs but also to save them. only 1/3 of medicare is paid for by medicare taxes. the rest is borrowed. every single day. and this can't go on. and it's not speculation that it can't go on. the only three countries that have a greater debt-to-gdp ratio than we do are greece, spain, and japan. s and and -- and what's happened for them is bad, the outcome for us will be bad. i'm not sure when and how it will manifest itself, but it will be bad. we have to get it control and under control now. and i think that's an argument that most of the american people u
-term fince the debt ceiling may be a hurdle between the height white house and gop. joining us is wendall who is traveling with the president. >> the president warned the republicans not to use the fight over the debt ceiling to trigger government spending cuts. but there is it every indication that they will do so . republicans will probably have more leverage than they did in the fight over the fiscal cliff. the problem is, even the threat of defaulting on its debt and lower the credit rate raising the cost of borrowing money and could trigger a global depreddings. >> if congress refuses to give the united states the ability to pay the bills on time. the consequences to the global economy could be catastrophic. last time our entire economy suffered. our familis and businesses cannot afford that dangerous game again. >> congressional office said it will leave 900 billion a year in deficits. republicans say by raising taxes on the wealthy. they ended the revenue debate. it still requires a balance of spending cuts and revenue from renorming the tax code. republicans do agree that the tax code
and the speaker said that the president said that he n't going to have a debate with us over the debt ceiling. he also sayshat he's not going to cut spending along with a debt limit hik. fiscal cliff behind us on the focus turns to spending. speaker boehner cited a new poll, shwing 72% of americans agree with him. but any increase in the debt lit must be accompanied by an equal amount in spending cuts. senator john cornyn saying that if the president intends the president intends to carry through with his no negotiation threat, but a government shutdown may be the only way to find resolution. the new senate majority leader is saying that it may be necessary to partially shut down the government in order to secure the fiscal well-being of our country. the looming deadline for action has been obvious. and in every instance the white house has purposely blow up the process in a shameless attempt to score cheap political points. "the washington post" reported the top ally in the senate may not be fully on board with his approach his imperious stance, if you will. senator harry reid reportedly warned
and the debt ceiling over hang gives people reason to be down beat in order to reset the bar so it can be easily beaten. [ boo ] it could make the earnings season the most difficult one in years. [ ghost ] >> that said, we're not quitters. we give you a game plan. we'll be listening for more than just quarterly reports next week. starting monday we'll try to get a read on one of my favorite groups and not that economically sensitive. the bio techs. we're doing it courtesy of the jp morgan pharma conference. it's the most important conference of the year. i love this group so much. the health care con fab. what are we listening to? you know what i want to hear? cellgene speaks at 11:00. they are located in summit new jersey and so am i. we stuck with this one through thick and thin. how many times did people desert it? we haven't. i think it's going to be a great 2013 story. then at 2:30 we look forward to hearing from a favorite who defied all expectations withdrawing the promising als drug due to lack of efficacy. the stock barely dropped. how does that happen? simple. i think there i
the fights. the fiscal cliff debate -- it doesn't end. >> the united states still faces huge debt and the need to raise the debt ceiling, more money can be borrowed. >> the last time they couldn't get the debt ceiling under, that's where we got to the fiscal cliff, right? >> that's right. that big fight over raising the debt ceiling. remember, the danger -- this is one reason the president wanted the first deal, the thing he's really thinking about when he says i am not negotiating, i'm not letting this in negotiations, raising the debt ceiling, he doesn't want the worlds destabilized. he wants to get the united states' fiscal house in order. he doesn't want a fight. historically this has not been a big fight. if the republicans hold his ground and the president holds his ground, the fight we had over the fiscal cliff will look like child's play compared to this battle. >> john boehner re-elected speaker of the house this week but not without republican defections. if there are winners and losers -- hate using that term because it seems that everything is about winning and losing.
-called fiscal cliff may be behind us, but the next round of the debt ceiling debate looms large in the near future. i'll ask the co-chair for the campaign to fix the debt what lies ahead. >>> and report that tim geithner will leave before that battle has many wondering how that could affect the economy. >>> if you think hillary's departure of the secretary of state will leave the country without a clinton on center stage, think again. >>> and "office politics." i talk to al roker from everything from the fiscal cliff to the first one-on-one he scored with the president after his short inauguration. good morning, welcome to "weekends with alex witt." we have front page politics. with the fiscal cliff deal behind us, president obama is turning his attention to the next battle in today's weekly address, the debt ceiling. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they already wracked up. if congress refuses to give the united states the ability to pay its bill on time, consequences for the entire global economy could be catastrophic. >> mea
. but there are still plenty of financial problems for lawmakers to tackle. next up - the debate over the debt ceiling. republicans say they don't even want to talk about it, until president obama is ready to start talking about spending cuts. but as brian todd reports, the president could get the money he needs to keep the government running, without any help from capitol hill. >> the president says that he will not to negotiate with congress over lifting the debt ceiling. >> will not play that game. >> the president might not want to have this debate but he is going to have because this is what the country needs it. >> is there a magic bullet to solve the crisis? " what a magic going. some legal scholars are suggesting a one trillion dollar platinum coin you could be minted. if they could use that to pave the debt. to pay the debt-- and it sounds silly but it is absolutely illegal. >> why do think that it is a a? >> i think that it is better than a government shutdown or the bad alternatives. >> technically it appears to be legal. the u.s. government print money but how much paper can be in circulat
, traveling to different states and making the argument if the debt ceiling isn't increased, the economy will suffer. you hear him say he's not going to negotiate with republicans. what specifically does that mean, we'll have to wait and see because, of course, house speaker john boehner is also taking a very hard line. he has said that he's not going to negotiate with president obama in these one-on-one sessions that we've seen in the past budget battles and he believes he's got leverage with the debt ceiling. but i think the white house will press on whatever package they agree upon to include some new revenues as well as spending cuts, of course, that is the big issue, republicans would like it to all come from spending cuts. so, it's undoubtedly going to be another knockdown, dragdown fight, alex, but it will be interesting to see who is negotiating with whom in the coming rounds of budget battles. >> i take it you are heading back tonight, you'll be back in washington very soon? >> reporter: very soon. not quite tonight, but very soon, yes. i'm coming back. >> enjoy. >> reporter: le
thought the fiscal cliff was nasty, just wait till you see how congress handles spending cuts and the debt ceiling. we'll talk to a republican congressman who actually supported the fiscal cliff deal and find out how he thinks the other deals are going to get done. >>> when it's okay to alter the historical accuracy of an official photograph. apparently when it's very cold outside. passengers on board a flight from iceland to new york find a unique way to stop an unruly passenger. we'll tell you what they did in a moment. the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their buddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. is a fantastic experience. 30 shrimp for $11.99. i can't imagine anything better. you're getting a ton of shrimp, and it tastes really good! [ male announcer
the debt ceiling but geithner says creative accounting can buy us a couple of months so the fight over the debt ceiling hike is likely to begin in a couple of weeks. >> jamie: there will be a looming battle over raising the debt ceiling and how much political capital does the president have left. john is economist and co-author of "who's counting?" sounds like the president is not willing to budge and majority leader says he is going fight for the finish. >> the president is looking at poll numbers that he is doing well and he got the better of the fiscal cliff debate. i think he is going for round two but the debt ceiling is different. he campaigned on balanced approach of spending restraint along with taxes increases on the wealthy. we just had the tax increases and not just top 2% but 78% of americans got a tax increase. that means your paycheck is going to be 1% less, at least than it was a few weeks before. so the president already raised taxes or cooperated in raising taxes. now, the republicans are saying if you want to raise the debt ceiling you have to match it one for one wit
been just a warmup. but february or early march, congress will have to vote on raising the debt ceiling, and the differences are not resolved, the country could see a default on the national debt and another potential downgrade on u.s. credit rating. joining me now, judd gregg, co-chair on the campaign to fix the debt. senator greg, thank you for joining me. >> thank you for having me on. >> it's a new year, new congress, but has some old problems, the debt mainly. what will happen this time? >> well, you know, the congress and the president made two efforts here that have been fairly substantive. the 2011 effort reduced discretionary spending by $900 billion and a tax increase of $960 billion, but the big elephant has not been addressed, entitlement spending, that's driving our debt. we're running deficits of over a trillion dollars a year, even after the tax increase, so they will have to come back and address that. i hope they can do it in an orderly way, rather than what we do in recent years. the chances that seem to be slim, the congress and president don't seem to be able to work
everywhere. senator bernie sanders responds here tonight. >> okay, now comes the debt ceiling. i think that is frankly a dead loser. >> newt gingrich warns republicans to quit hostage taking. but another big-time senator refuses the advice. congressman tim ryan, gene robinson and howard fineman on the republican deception on the debt. 67 house republicans vote against disaster relief for new york and new jersey residents. we'll detail the shame of paul ryan and the sandy 67. >>> plus barney frank wants back into congress. and bill o'reilly does his best archie bunker. >> asian people are not liberal by nature. they're usually more industrious and hardworking. >> tonight actor george takei joins me to set o'reilly straight. good to have you with us tonight. thanks for watching. we told you how republicans are out about the way the debt ceiling works. today we saw the next phase of their misinformation campaign. tea party ron johnson went on msnbc this morning and hammered the president when it comes to spending cuts. >> president obama and the democrats have no intention. as a result, t
they want to make will be on the debt ceiling. and ironically, i think if as tim geithner did, the secretary of the treasury, float this idea of abolishing the law that requires a congressional vote, that sort of the ultimate threat that the president has. whether he can get that through or not. but that's the ultimate nightmare for the tea party. >> quickly both of you gentlemen, i want your take on the filibuster reform that is pending. there is a lot of commentary being given in the senate about what should be done. would this make it a toxic atmosphere, eugene, if harry reid goes for the full ball of wax and really smokes them out the way they have been filibustering and changes the rule? what does that do to debt ceiling negotiations, if anything? >> well, i think it probably exacerbates the tensions and the bad feelings in the senate, and where the feelings are not that bad right now. i don't know that he will try to push forward on that. >> what than, howard? >> i think he might try it. i think he is being pushed to try it by liberal constituencies who might see that as a payback for
months, as the government reaches its debt ceiling and can't borrow any more money. president obama wants to lift that ceiling. the republicans don't. and it appears we're heading for another "thelma and louise" ride to the edge. remember -- they went over. we'll discuss that possibility next week with paul krugman, the nobel laureate in economics and "new york times" columnist whose bestselling book, "end this depression now!" calls for full employment as an alternative to austerity. read it, then send us the question you would like me to put to paul krugman. meanwhile, another reality beckons and there's a menace more threatening than the fiscal cliff ever was. what should really be scaring the daylights out of us -- the crisis which could make all the others irrelevant -- is global warming. get this one wrong and it's over -- not just for the usa, but for planet earth. that's the message delivered by hurricane sandy, and by almost all the extreme weather of the past two years. and here in the first month of the new year, it's the message from the most informed scientists in the world.
will take into account as we work on the debt ceiling agreement and that we can get it done before the deadline. remember, you have talked about how president obama, speaker boehner will approach these things, we've got to have people talking to each other and we've got to get to solutions before the 11th hour to avoid that. that is absolutely what we can do. host: we agreed to the debt ceiling limit, 16 $0.40 trillion -- $16.4 trillion, up in the last hours. guest: the treasury has some flexibility. the time has come to deal with it. there's no reason to put this off. let's get it done. host: you have a favorite for the next treasury secretary appointed? guest: i don't have names. jackal is a possibility that has been talked about by president obama, a very knowledgeable individual. if that is the president's call, it is an important appointment, so we will look at his choice carefully. i hope it is somebody who can help work through the kind of agreement we need to address the debt ceiling. host: if he is nominated, can you see any hurdles for him being nominated by the senate? g
. first, the debt ceiling. that is still out there. we still have to deal with the debt ceiling probably late february, early march. negotiations will start over the debt ceiling almost instantly. but wait, there's more. what about the sequester, those budget cuts? they did a two-month delay. starting march 1st you'll have the same budget cuts and spending cuts you'll have to deal with. wait, there's more. you want more? here is the fourth quarter, funding for the federal government which runs out march 27th. there you go. another fight between democrats and republicans. >> i was hoping we could stop using the word cliff. it seemed like every seventh word out of my mouth was cliff. what else is in the spotlight? >> a couple of big things on the president's to-do list, i guess you could say, besides these budget issues. first up, gun control. after the tragedy in newtown, connecticut, shootings at the elementary school in sandy hook up there, there's now a new push by the president on gun control. the congress is leading a task force, expected to come out with recommendations on what to d
Search Results 0 to 37 of about 38 (some duplicates have been removed)